Donington bid ‘killed by credit crunch’
BERNIE ECCLESTONE, Formula One’s commercial rights-holder, says Donington’s attempt to host the British Grand Prix was killed off by the credit crunch.
The Leicestershire circuit’s bid sank on Monday, having failed to raise the £135m needed to overhaul its facilities, leaving Silverstone set to step in.
“It’s unfortunate for them,” said Ecclestone. “It was the credit crunch that caused them to be in trouble because their intentions were good, that’s for sure.”
Donington Ventures, which leases the track, failed in a late attempt to raise funds through a bond scheme. Having had the deadline to show it had the requisite funds extended several times, Donington missed Monday’s final cut-off date.
Ecclestone added: “There’s no Donington. They’ve missed the deadline which we kept extending for them.” Doubts remain over the future of the British Grand Prix, as long as no agreement has been signed between Ecclestone and Silverstone.
The British Racing Drivers’ Club, which owns and operates Silverstone, is thought to be trying to negotiate the price down, while Ecclestone insists he could get a better deal abroad. But he said yesterday: “We’re talking. A deal can be done if they want to.” Asked what the sticking points were, the 79-year-old replied: “There isn’t actually. As far as I’m concerned, no problems.”